S&P 500 closes slightly lower despite upbeat retail sales and TSMC results

From Investing.com: 2024-10-17 16:04:24

The S&P 500 closed slightly lower Thursday despite upbeat retail sales data and strong results from TSMC. TSMC’s net profit beat estimates and was fueled by its advanced 3-nanometer chips. Their positive outlook sent AI-related stocks like NVIDIA and AMD higher.

Retail sales data surpassed expectations, with a 0.4% increase in September, showing a strong consumer. Jobless claims also fell slightly, in line with forecasts. The earnings parade continues with Netflix, Blackstone, and Intuitive Surgical releasing their reports.

Expedia surged on reports of a potential Uber takeover bid, while Lucid fell after announcing plans to sell shares.



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